SEARCH NEWS:

 

VCAT Announces Investment in SensCom

The e-celerator Fund, L.P., a San Diego-based venture capital fund managed by Batchelder and Partners, Inc., led the investment round. The e-celerator Fund focuses on companies that enable, streamline, or facilitate B2B e-commerce through wireless and other innovative technologies. The initial round of financing for SensCom was made by BridgeWest L.L.C., a San Diego-based wireless technology venture capital company.

SensCom facilitates secure banking and trading transactions over Web-enabled wireless phones and other devices through proprietary wireless Internet middleware it develops, hosts and maintains. SensCom recently became the first company to enable a commercial offering of wireless Internet banking on wireless phones in the United States.

SensCom offers its adaptable technology platform to financial services providers of any size that wish to offer their customers the latest in technology and service at affordable rates. The company's technology platform is scalable and customizable according to the institutions' needs and is designed to integrate seamlessly with existing information management systems.

``Wireless connectivity is now sought after by both businesses and consumers,'' said Sanjay Sabnani, president of Venture Catalyst. ``SensCom brings to market what VCAT believes will soon become a ubiquitous service worldwide, and we are pleased to participate through our investment in the company's progress. Additionally, we look forward to identifying further opportunities to unite with e-celerator in our investment activities.''

``Through their broad knowledge-base, VCAT has the ability to locate promising investment opportunities, and they have the infrastructure in place to both define and service an early-stage company's essential needs,'' said Troy Malone, Managing Director of the e-celerator Fund. ``We are happy to invest alongside VCAT in SensCom, as we pursue our goal of focusing on innovative technologies for e-business.''

``SensCom has had widespread support from the marketplace for our wireless Internet services,'' said Tarek Fouad, SensCom founder and CEO. ``We intend to build on the momentum from the recent launch of our first customer, and use the investment from VCAT and the e-celerator fund to secure more accounts and further corporate development.''

About the e-celerator Fund, L.P.

In 2000, the principals of Batchelder and Partners, Inc. established the e-celerator Fund, L.P. (``the Fund''), a venture capital fund focusing on wireless and other enabling technologies for e-business, one of the fastest growing and most promising sectors in the ``new economy''. The principals believe that technology companies enabling ``B2B'' transactions in this burgeoning market are poised to become market leaders and enjoy competitive advantages. The Fund seeks to achieve above-market returns through an investment strategy that proactively focuses on facilitating and accelerating profitable growth. For more information, please visit www.batchco.com.

About SensCom

Headquartered in San Diego, SensCom, Inc., is an application service provider of wireless Internet solutions for the financial services industry. SensCom's ASP solution utilizes its proprietary technology and end-to-end security to enable wireless banking, brokerage, and other financial transactions. More information can be found on the company's website at www.senscom.com.

About Venture Catalyst Incorporated

Venture Catalyst Incorporated (Nasdaq: VCAT - news), www.vcat.com, provides venture services to support and facilitate the development of emerging businesses. VCAT acts as an entrepreneur's ally in identifying, organizing, capitalizing and growing businesses at a faster rate. VCAT's team of experts offer comprehensive Web development services, investor relations, public relations and marketing, strategic planning, executive recruitment, infrastructure, state-of-the-art incubation facilities, and professional and technical expertise. A public company since 1995, VCAT has offices in San Diego, Orange County and Santa Monica.

< Gaming News